Offered at an asking price of $450,000, the property generates a compelling 6.77% cap rate, providing investors with immediate cash flow and long-term upside potential. Fully remodeled within the last five years, this six-unit property consists of three duplexes situated on a single lot and is 100% occupied as of February 2026. Featuring all 2-bedroom, 1-bathroom units, the property benefits from strong historical occupancy driven by its location less than a half-mile from Eastern New Mexico University, making it an attractive and proven student housing investment.
For sale
$450,000
501 S Avenue G, Portales, NM 88130
2beds
1baths
4,872sqft
:
Get pre-qualified$2,779/mo
Multi Family
Built in 1977
-- sqft lot
$432,400 Zestimate®
$92/sqft
$-- HOA
What's special
- 67 days |
- 89 |
- 4 |
Zillow last checked:
Listing updated:
Listed by:
Luke Scarpa 505-504-8883,
NAI SunVista Commercial RE 505-878-0001
Source: SWMLS,MLS#: 1104787
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
Heating
- Forced Air
Cooling
- Refrigerated
Appliances
- Included: Free-Standing Gas Range, Microwave, Refrigerator
Features
- Flooring: Vinyl
Interior area
- Total structure area: 4,872
- Total interior livable area: 4,872 sqft
Property
Features
- Levels: One
- Stories: 1
Lot
- Size: 0.48 Acres
Details
- Parcel number: 100000000528200
- Zoning description: R-1
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Condition
- Resale
- New construction: No
- Year built: 1977
Utilities & green energy
- Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Green energy
- Energy generation: None
Community & HOA
Location
- Region: Portales
Financial & listing details
- Price per square foot: $92/sqft
- Tax assessed value: $317,231
- Annual tax amount: $2,734
- Date on market: 6/3/2026
- Cumulative days on market: 68 days
- Listing terms: Cash,Conventional,FHA,VA Loan
- Total actual rent: 4140
- Tenant pays: Electricity, Gas, Sewer, Water
Estimated market value
$432,400
$411,000 - $454,000
$736/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/4/2026 | Listed for sale | $450,000$92/sqft |
Source:  SWMLS #1104787 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,655 +2% | $105,744 +3% |
| 2024 | $2,604 +1.3% | $102,664 +3% |
| 2023 | $2,569 +8.9% | $99,674 +3% |
| 2022 | $2,359 +49.2% | $96,771 +49% |
| 2021 | $1,581 +167.1% | $64,961 +167.9% |
| 2020 | $592 -0.1% | $24,248 |
| 2019 | $592 -44.1% | $24,248 -44% |
| 2018 | $1,060 | $43,265 +3% |
| 2017 | -- | $42,005 +3% |
| 2016 | $1,017 | $40,782 +3% |
| 2015 | -- | $39,594 |
| 2011 | $967 | -- |
| 2010 | -- | -- |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 88130
Nearby schools
GreatSchools rating
- 6/10Brown Early Childhood CenterGrades: PK-KDistance: 0.2 mi
- 6/10Portales Jr High SchoolGrades: 7-8Distance: 0.6 mi
- 4/10Portales High SchoolGrades: 9-12Distance: 1.2 mi
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A local agent can set up tours, give advice and negotiate with sellers.
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